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CA SB1399
Bill
AI Summary
- Prohibits creation of transfer fees on real property transfers effective January 1, 2019, with limited exceptions
- Exempts excepted transfer fee covenants defined by federal regulation (Section 1228.1 of Title 12, Code of Federal Regulations)
- Creates exemption for private transfer fee covenants if created pursuant to agreements entered before June 1, 2009 that were either litigation settlements or approved by a government agency
- Requires exempted covenants to be recorded in each county where applicable land is located and to specify the development area where they apply
- Declares any transfer fees created in violation of the prohibition void as against public policy
Legislative Description
Transfer of real property: transfer fees.
Last Action
Chaptered by Secretary of State. Chapter 475, Statutes of 2024.
9/22/2024
Committee Referrals
Judiciary5/28/2024
Judiciary2/29/2024
Rules2/16/2024
Full Bill Text
No bill text available